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Ørsted secures 500 MW of wind, solar PPAs with ExxonMobil

Wind park. Photo by: Lincoln Clean Energy (www.lincoln-clean-energy.com).

November 30 - (Renewables Now) - Danish utility Ørsted (CPH:ORSTED) has agreed to supply power from 500 MW of wind and solar parks in Texas for the operations of US oil and gas major ExxonMobil Corp (NYSE:XOM) in the Permian Basin.

The companies have sealed two long-term power purchase agreements (PPAs), Ørsted announced in an investor presentation this week.

Through its US subsidiary Lincoln Clean Energy, the Danish company will supply 250 MW from the 300-MW Sage Draw wind farm, which is due to be commissioned in the first quarter of 2020. The remaining 250 MW of the contracted capacity will come from the 350-MW Permian solar photovoltaic (PV) complex, slated to begin operations in the second quarter of 2021. Terms and financial details about the PPAs were not provided.

Lincoln Clean Energy, which Ørsted acquired in October, has 400 MW of solar assets in its portfolio and could add more in the future but will remain focused on onshore wind development, its parent company said.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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